Who is the Sublessee in the Crave Personal Guaranty of Lease?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
| Crave WM Franchising LLC, a Wyoming limited liability company ("Sublessor"), | |
|---|---|
| executes this Sublease (the "Sublease") herewith between Sublessor and | |
| , a | limited liability |
| company ("Sublessee"), covering certain premises, situated in the City of | in the state of, within the |
| Walmart location located at The undersigned, jointly and | |
| severally (hereinafter referred to individually and collectively as "Guarantor", whether one or | |
| more) hereby jointly and severally guarantee unto Sublessor the payment and performance of (i) all | |
| of the rental and other sums or charges which may ever become due and payable by Tenant under | |
| the Lease, including, without limitation, rental that becomes due and payable by reason of the | |
| exercise of any power to accelerate granted to Sublessor under the Sublease and any damages or | |
| other sums that become payable on account of any default by Sublessee under the Sublease, and (ii) | |
| all of the other obligations, liabilities and duties of Sublessee under the Sublease (the rental, other | |
| sums and charges and other obligations, liabilities and duties described in the foregoing clauses (i) | |
| and (ii) being hereinafter collectively referred to as the "Obligations"). For the purposes hereof, the | |
| term "Sublessee" shall include any assignee of Sublessee, | and the term "Sublease" shall include any |
| amendment of the Sublease effected by Sublessor and Sublessee, with or | without the consent or |
| knowledge of Guarantor. |
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the Sublessee in the Crave Personal Guaranty of Lease is a limited liability company. The specific name and details of the Sublessee, such as the city and state where the premises are located, are not fully provided in the excerpt. The document indicates that the Sublease is between Crave WM Franchising LLC, the Sublessor, and the Sublessee, which is identified as a limited liability company.
The Guarantor, whether one or more individuals or entities, jointly and severally guarantees to the Sublessor the payment and performance of all rental and other sums or charges due under the lease. This includes rental payments, damages, and other obligations resulting from any default by the Sublessee. The term "Sublessee" also encompasses any assignee of the Sublessee.
For a prospective franchisee, this means that if they are taking over an existing lease, they will be the Sublessee. They will be responsible for all obligations under the Sublease. Additionally, the franchisee should be aware that they may need to provide a personal guaranty, ensuring their commitment to fulfilling the lease obligations. It is important to review the Sublease agreement carefully to understand all terms and conditions, including payment schedules, responsibilities, and potential liabilities.